Peters & Peters is pleased to report the recent judgment of the Court of Appeal upholding a substantial part of the judgment debt our firm had obtained on the summary basis in April 2024 against JNFX Limited, a London-based foreign exchange and payment services provider. The unanimous decision handed down by the Court of Appeal on 29 July 2025, entered judgment in the sum of Nigerian Naira 4,921,000,000 plus compound interest.

The judgment is an important milestone in the long-running proceedings against JNFX and its Head of Global Markets, Mr Ashay Mervyn.

Mr Giwa is pleased with the decision of the Court of Appeal upholding majority of the damages awarded by the High Court and remains committed to pursuing his claims to conclusion and will now consider his next steps, including commencement of enforcement proceedings in respect of the judgment debt confirmed by the Court of Appeal.

The Peters & Peters team is led by Partners Jonathan Tickner and Vlad Meerovich, and Associate, Stefan Ansah. Matthew Bradley KC of 4 New Square and Rumen Cholakov of 3 Verulam Buildings are instructed as counsel on behalf of Mr Giwa.